All Forum Posts by: Jason Tougas

I have been analyzing a foreclosure property in San Antonio, Texas which has been found to have extensive mold damage throughout multiple rooms of the home due to a plumbing leak left untouched. Mold spore concentrations were

Measured to be 225,000 spores/m^3 at the worst location in the home and decline in various other rooms of the home.

My concern (or rather question) refers to the “requirements” for mold remediation— the listing documents include (3) mitigation estimates ranging for $60 -$120k along with the scientific specimen results from the contractor that performed the mold assessment. This information is obviously a known condition so would need to be included on all disclosures, but what else would need to be provided for resale or to future renters?

I generally complete my own rehab work, but with this being a “known & potentially dangerous” condition, would I need to use an approved mold removal contractor to complete this work before listing to resell or rent?

What follow-up inspections would be required or what else would you all recommend to protect myself?

Would It be wise to remove the mold (drywall, carpet/pad etc) and have new tests conducted prior to rehab?

That's great! It seems you look at properties the same way that I do. I cannot help but find excitement in a good rehab project. What part of Cali are you from? Where do you plan to move to? How long have you been in real estate?

Good afternoon Jeff,

I have been struggling with the same question and over the past few

Months have discovered a few Apps or programs I have been trying to manage my small inventory of properties.

I recently started using ‘cozy’ which is really handy for receiving payments and generating invoices or receipts for my tenants. I currently only use the free version but so far it has worked well and they also have a paid version with more features.

Another app I have been using is ‘Landlordy’. I don’t believe it offers the payment feature (at least not for free) but is really simple and helpful for keeping track of the properties and the finances. This program will also generate nice profit/loss reports for each property.

I am sure there are hundreds of programs out there for you to use, but these 2 have been the ones I have been practicing on for the past couple months.

I hope this helps! Good luck my friend!

Hello Brandon,

What type of project are You looking at? What is the scope of repairs & the timeline you are working with to have the property move in ready?

Have you found a property that has peaked Your interest yet Or are you still looking?

Good evening Miles,
I have also used Five Star Title and the experience was great. They opened up shop over the holiday weekend for me so we could close a property on a time sensitive deal. Very friendly and good people to work with. I have also had good luck with the folks over at Old Republic in New Braunfels. They are growing in size but their staff seems willing & able to meet the needs of their customers. Hope this helps.

Thank you for the insight. This would certainly be a great starting point for me. I appreciate you taking the time to respond

I have been evaluating real estate deals for flip properties & rental property opportunities and have been struggling with estimating the repair costs for properties that are stripped or are requiring more work than the standard renovation upgrades.

I am hoping this post with provide some real world average estimates on what it would cost to complete the renovations in the two examples below.

Example 1: Home was located In a forest fire burn zone where the home was destroyed. The Home was re-built new but the interior never completed. The exterior has been completed with new windows, doors, siding, trim, roof etc, but the interior needs walls framed, electrical/plumbing/hvac, insulation and finish work completed. Essentially all I have is a shell of a home.

With all the work being contained with the interior of the home, what would be a realistic estimate to contract the remaining portion of the project based on sq footage?

Example 2: Similar project as Example 1. This home also has exterior work completed and home is sitting on top of a new foundation. Again the interior is remaining to complete. This project has walls framed, wires ran to the outlets/boxes but no insulation, drywall, paint/texture, trim or flooring.

Same questions as above- what would be a good estimate by square footage to complete the rehab from its current state?

congratulations! 

I recently struggled through the same battle of naming my llc. I probably watched 10+ YouTube videos to help me understand the do’s and donts for naming a company.  Although that sounds ridiculous, I believe it was time well spent and changed my perspective on how I view and evaluate other companies around me.  Take some time to learn from the experts and think about what you want your company to represent and how to best convey that mission statement. Ultimately That was the direction I went with mine and feel pleased with the outcome. Good luck and congratulations on entering the real estate world! 

Welcome Andrew! You have taken the first big step towards becoming an investor-- Joining Bigger Pockets! These folks are great and will help make your first investment a huge success. I am also located in the San Antonio area and as Brandon has indicated, this market is HOT!